B
9%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
19%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index North Miami Beach Florida National
Cost of living10998100
Goods & Services10698100
Groceries10499100
Health care9696100
Housing11996100
Transportation10399100
Utilities10397100

An Overview of Cost of Living in North Miami Beach, FL

Are you thinking about relocating, but curious about the potential cost of living in North Miami Beach? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in North Miami Beach stands at 109, making it 9% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In North Miami Beach, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in North Miami Beach will resemble that of an average city, contributing to a manageable cost of living.

Is North Miami Beach Affordable?

Is North Miami Beach affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take North Miami Beach, for instance, where the median home price falls 14.9% higher than the national average, and monthly rent rates are 28.6% higher than usual. Additionally, median income levels contribute to the equation, with North Miami Beach flaunting a median household income of $46,761, 15.5% lower than the national norm.

What Factors can Influence the Cost of Living in North Miami Beach?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In North Miami Beach, the healthcare costs are 4.2% lower than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In North Miami Beach, the utilities index is 2.8% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The North Miami Beach cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in North Miami Beach is 11% higher than the Florida average
  • The cost of living in North Miami Beach is 9% higher than the national average
  • North Miami Beach housing is 19% higher than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around North Miami Beach

See all the best places to live around North Miami Beach

Compare North Miami Beach, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$57,790$4,816$1,348$1,734
      Renters$37,204$3,100$868$1,116
      The affordability of the housing market in North Miami Beach, FL as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among North Miami Beach homeowners, the median income is $57,790. This indicates that a monthly maximum of $1,348 should be spent by homeowners on all housing related costs. Renters have a median income of $37,204. This indicates that renters would have a maximum of $868 for their rent related monthly costs.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item North Miami Beach National avg. Difference
      Haircut $20.53$24.2615.4%
      Beauty Salon $88.07$45.5693.3%
      Toothpaste $3.51$3.705.2%
      Shampoo $1.53$1.2819.7%
      Movie $14.35$12.1318.2%
      Bowling $23.67$18.0031.5%

      Groceries

      Item North Miami Beach National avg. Difference
      Ground Beef $6.11$5.844.6%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.60$4.671.5%
      Potatoes $5.24$4.936.2%
      Pizza $14.13$12.0916.9%
      Beer $11.44$10.419.9%

      Health Care

      Item North Miami Beach National avg. Difference
      Optometrist $98.49$125.6821.6%
      Doctor $127.08$135.786.4%
      Dentist $107.83$113.294.8%
      Ibuprofen $11.10$10.654.2%
      Lipitor $490.35$468.604.6%

      Housing

      Item North Miami Beach National avg. Difference
      Home Price $212,300.00$184,700.0014.9%
      Avg. Mortgage Payment $3,109.00$2,346.6932.5%
      Apartment Rent $1,220.00$949.0028.6%

      Transportation

      Item North Miami Beach National avg. Difference
      Gasoline $3.49$3.460.8%
      Tire Balancing $64.09$59.927.0%

      Utilities

      Item North Miami Beach National avg. Difference
      All Electricity $200.94$193.993.6%
      Phone $194.37$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Medley, FL1,0538712.6%
      Pembroke Park, FL6,7168910.9%
      Gladeview, FL13,490981.8%
      Franklin Park, FL1,549981.7%
      Roosevelt Gardens, FL2,068991.0%
      North Miami Beach, FL42,8241098.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bradford West Gwillimbury, ON42,843n/a 
      Boucherville, QC42,869n/a 
      Campbell, CA42,891235135.2%
      Lompoc, CA42,75313030.4%
      St. Thomas, ON42,918n/a 
      North Miami Beach, FL42,8241098.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.